$25M Cheque Ceiling on Payments Effective February 2003

Tax Information Bulletin, January 2003

Introduction

Due to changes made by the Canadian Payments Association (CPA), the Ministry of Revenue cannot process cheques over $25 million. To enquire about electronic tax payment option(s), for payments exceeding $25 million, please call the number listed below.

Background

The CPA has introduced a $25 million ceiling for cheques, bank drafts and other paper-based items to be processed through Canada's clearing system, effective February 3, 2003. The objective of their initiative is to ensure certainty of settlement which enhances the safety and stability of the Canadian payments system, and reduces risks for businesses and other organizations involved in large value transactions. Details are available on CPA's Internet site: www.cdnpay.ca.

Tax Compliance

It is your responsibility to ensure that all payments and returns are received by the Ministry of Revenue by the due date. Payments and returns received after the due date may be subject to penalties and interest.

Payment Option Enquiry Contacts

Tax/Program	Contact
Corporations Tax Mining Tax Transfer Tax (Electricity Act, 1998) Payments in Lieu of Corporations Tax (Electricity Act, 1998)	Manager - Accounting Operations
Retail Sales Tax Race Tracks Tax	Manager - Analysis and Program Development
Debt Retirement Charge Program (Electricity Act, 1998)	Service Manager
Employer Health Tax	Manager - Business Services
Gas, Fuel & Tobacco Taxes Gross Revenue Charge (Electricity Act, 1998) International Fuel Tax Agreement (IFTA) Land Transfer Tax Provincial Land Tax Property Tax Payments in Lieu (Electricity Act, 1998)	Manager - Accounts and Business Support

Questions

Please call the ministry

Toll-free: 1 866 ONT-TAXS (1 866 668-8297)
TTY (Teletypewriter): 1 800 263-7776

Tax Information

For other Ontario tax related enquiries, please contact an Ontario Ministry of Revenue Tax Office. The office locations and numbers are listed in the blue pages of your telephone directory under 'Taxes Province of Ontario'.
Or visit our website: ontario.ca/revenue

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